EUSTACE, Texas, Dec. 12, 2012 /PRNewswire/ -- (OTC PINKS:
PDGO) Paradigm Oil and Gas, Inc. is pleased to announced execution
of service contracts starting January
2013 for the Centurion. "There is nothing like starting the
New Year with work contracts earning revenue. This marks the
beginning of Paradigm's commitment to using new technology in the
oil and gas industry and we expect to explore, acquire and use more
technologies," said Vince
Vellardita, President.
Paradigm has been contracted by CAVU Resources, Inc., ("CAVU"),
(OTC PINKS: CAVR) of Tulsa,
Oklahoma to work on a lease with up to 65 shallow wells in
Northeast Oklahoma. Most of the
wells are cased wells with no equipment. The Centurion is expected
to assist CAVU in understanding the fluid level in each of the
wells, provide information about potential recovery from the wells,
assist in determining formation porosity and provide valuable
information to the management of CAVU for determining its future
investment expenses for equipping and reworking any of those
wells.
"We are excited about utilizing this technology to prove the
economics of our Hogshooter lease. With our new partners and
large re-development project planned, having facts and proven
results will allow us to maximize our returns and accelerate the
project," stated William Robinson,
CEO of CAVU.
The timing is right; the demand for domestic oil production is
increasing and information about existing wells having only
recovered a small percentage of the reserves keep coming out.
Management believes the Centurion will be helpful to companies like
CAVU which need the most real time data before making an investment
in rework projects. Paradigm's ability to provide reoccurring
service to companies like CAVU over time will be important to all
parties. "Paradigm's goal is to have a fleet of 10 Centurion Trucks
and crews in different geological regions and generating as much
revenue as we can by the end of 2013 by utilizing our Centurion
technology," stated Vince
Vellardita.
About CAVU Resources, Inc.
CAVU's Mission is to become a recognized regional player in the
independent oil and natural gas industry by growing the company's
oil and natural gas reserves. CAVU is a natural resource company
engaged in the acquisition, exploration and development of oil and
natural gas properties. The Company operates in the upstream
segment of the oil and gas industry with planned activities
including the drilling, completion and operation of oil and gas
wells in Oklahoma, Louisiana, Kansas and Texas. The Company has acquired leases and is
currently exploring additional opportunities in oil and gas leases.
CAVU Energy Services, Inc., a licensed Oil and Gas Operating
Company operates the company's properties in Oklahoma with plans to operate targeted leases
in Kansas, Louisiana and Texas. CAVU plans to expand operations not
only in the traditional Oil and Gas business, but also to invest in
technology for water reclamation and saltwater facilities, taking
advantage of the changing environment and in the world's need for
new, green and innovative resources. More information is available
at the company's website at http://www.cavu-resources.com.
About Paradigm Oil and Gas, Inc.
Paradigm Oil and Gas Inc. (OTC Pink: PDGO) is a dynamic company in
business to both provide service work to the oil and gas
marketplace and to produce oil. Paradigm's goal is to identify oil
producing wells and use modern technology to make them profitable
based on modern commodity pricing. For more information about
Paradigm Oil and Gas, visit the website at
www.paradigmoilinc.com.
Forward Looking Statements.
This release contains "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E the Securities Exchange Act of 1934, as amended and
such forward-looking statements are made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995. "Forward-looking statements" describe future expectations,
plans, results, or strategies and are generally preceded by words
such as "may," "future," "plan" or "planned," "will" or "should,"
"expected," "anticipates," "draft," "eventually" or "projected."
You are cautioned that such statements are subject to a multitude
of risks and uncertainties that could cause future circumstances,
events, or results to differ materially from those projected in the
forward-looking statements, including the risks that actual results
may differ materially from those projected in the forward-looking
statements as a result of various factors, and other risks.
Paradigm Oil and Gas, Inc., is a company with limited experience in
the oil and gas industry. At the time of this release Paradigm Oil
and Gas, Inc. lacks the financial capabilities to meet its
financial obligations and its management expects to dilute the
Company's shares to raise the necessary operating capital. Based
upon industry standards Paradigm would be considered highly
speculative and lacks any competitive advantage over its
competition. Additional risks you should consider are that this
list is limited and additional risks not mentioned may apply:
failure to meet Paradigm's financial and contractual obligations,
Paradigm's managerial errors made based upon the Company's limited
experience and knowledge of the industry, commodity risk, acts of
God and regulatory risk. You should consider these factors in
evaluating the forward-looking statements included herein, and not
place undue reliance on such statements.
Contact:
Vince Vellardita
Paradigm Oil and Gas, Inc.
vince@paradigmpdgo.com
1-727-776-3114
Contacts:
CAVU Resources, Inc.
William Robinson
5147 South Harvard
Ave, STE 138
Tulsa, OK
74135
Email: info@cavu-resources.com
Website:
www.cavu-resources.com
Tel: 504-722-7402
SOURCE Paradigm Oil and Gas, Inc.